Elevation Point Wealth Partners LLC Invests $1.27 Million in Elevance Health, Inc. $ELV

Elevation Point Wealth Partners LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,275 shares of the company’s stock, valued at approximately $1,267,000.

A number of other institutional investors also recently bought and sold shares of the company. Kilter Group LLC bought a new position in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new stake in Elevance Health during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health during the fourth quarter valued at approximately $32,000. WealthCollab LLC increased its holdings in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its position in Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $400.66 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24. The stock has a 50-day moving average price of $394.76 and a 200 day moving average price of $360.04. The stock has a market capitalization of $86.89 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same period in the previous year, the firm earned $8.84 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is currently 30.58%.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ELV shares. Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a research report on Tuesday, July 7th. TD Cowen raised their target price on Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Robert W. Baird lifted their target price on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Finally, Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.